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Presented below are selected ledger accounts of Shamrock Corporation as of December 31, 2017. Cash $60,200 Administrative expenses 106,000 Selling expenses 84,340 Net sales 556,000

Presented below are selected ledger accounts of Shamrock Corporation as of December 31, 2017.

Cash $60,200
Administrative expenses 106,000
Selling expenses 84,340
Net sales 556,000
Cost of goods sold 262,000
Cash dividends declared (2017) 22,310
Cash dividends paid (2017) 24,600
Discontinued operations (loss before income taxes) 49,600
Depreciation expense, not recorded in 2016 32,100
Retained earnings, December 31, 2016 93,380
Effective tax rate 30%

Prepare a partial income statement beginning with income from continuing operations before income tax, and including appropriate earnings per share information. Assume 19,400 shares of common stock were outstanding during 2017.

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